San Jose Craigslist Inspection (2024)

RyanR said:

So you agree that you should be looking at something similar to the above, ~1k less than kbb?

Click to expand...

Generalizations like that are often wrong, especially since the prices in KBB and NADA have no correlation with Bay Area reality as far as I can tell.

I usually opt for something like this:

• Do some research on Craig's List to get a feel for what the asking prices are for models that are similar to the one you want to buy. "Similar" means the same generation, same year +- 1-2 years (as long as generation doesn't change), and same mileage +- a few thousand miles.
  
• Contact the sellers you've identified via email to see if they're legit. Ask some basic questions that require more than a Yes/No answer. Anyone who insists you call or text them is likely some sort of phone scam. Anyone who can't provide answers that sound legit (ex: more than 2-3 words) is likely a scam. Eliminate the scammers and you've now got a list of asking prices from legitimate sellers.
  
• You'll probably come up with a wide range of asking prices, say $4000-7000. Your goal is to buy a better than average bike for a reasonable price.

When making an offer, you need to take the differences in bikes into account. Our hypothetical $7000 seller probably isn't going to sell for $4000 if their bike is years newer than the $4K bike, has brand-new tires, has a warranty (factory or extended), a recent service, or half as many miles. A better bike legitimately deserves a better price! So how do you know what to offer? Look at the differences between the lowest-priced bike you'd consider buying and the one you actually want to buy then decide how much the differences are worth to you!

Let's walk through an example:

- The bike you're considering, a 2006 for $5300: https://sfbay.craigslist.org/sby/mcy/d/san-jose-2006-triumph-daytona-675/6865519753.html

- The cheapest similar 675 on CL: a 2007 for $4000: https://sfbay.craigslist.org/eby/mcy/d/livermore-daytona/6868131664.html

Not many details on the 2007, so it might be a scam, but let's assume that: it's legit, it's in decent mechanical condition, and that everything not explicitly mentioned is stock. I'd start with the $4K base price of the 2007 and figure out how much I'd pay to get the stuff that makes the 2006 better. These prices are examples of what I'd be willing to pay. Remember: everyone else will probably come up with completely different prices!

• Our base price is $4000
• The 2006 has 17.5K miles while the 2007 has 36K miles. That's a huge difference! I'd be willing to pay $750 to get a bike with half as many miles, so we're up to $4750
• The 2007 bike is missing a "right side infill" panel. Doesn't sound super-important but I'd pay an extra $50 to have it, do we're up to $4800
• Both bikes have aftermarket exhausts. I'd rather have stock, so no change there
• The 2006 bike has a Shorai battery and charger. I'd pay $50 for that, so we're up to $4850
• I like the red color scheme of the 2007 over the scorched yellow of the 2006 bike. That's -$100 for me, so back down to $4750
• The carbon wrap and seat cowl on the 2006 looks kinda cool and I'd pay $100 for them, so back up to $4850
• The 2006 bike has a bunch of mods I wouldn't want (Saddleman seat, integrated LED taillight) and a few I would (TechSpec tank grips, PowerCommander, updated regulator/rectifier). Let's call that +$100 for the 2006 bike so we're up to $4950
• The 2006 bike has better suspension components, but the chances are they'd probably need to be resprung or revalved to work for me so not worth much to me. The aftermarket stuff is probably easier to work on though. Guess I'd be willing to pay $100 for it, so we're up to $5050

So, there you go: I might be willing to go as high as $5050 for the bike you're looking at. With that price in mind, I'd go take a look at the bike and adjust my price accordingly. Maybe all of the upgrades are really terrific and the suspension components work perfectly for me, so I'd be willing to pay a a few hundred more than $5050. Maybe the PowerCommander tune is awful or the suspension setup is so terrible I'd need an immediate revalve. In those cases I'd adjust downward from my $5050 target price.

Most Craig's List sellers price their bikes a bit high so they have room too negotiate. A 5-10% margin ($265-530 for the 2006 bike) seems to be pretty common, which means that our $5050 price target is likely within range of what the seller would accept.

For comparison, the NADA suggested retail price on a 2006 is $2710 (assuming no mods) and the KBB price is $4820. Lopping $1000 off either of those prices is a pipe dream...